By Heike Mayer
Moment tier high-tech areas are taking a unique course than their recognized opposite numbers reminiscent of Silicon Valley or course 128 round Boston. they might lack many necessities of progress reminiscent of a world-class examine college or excessive degrees a chance capital investment. usually, even though, they could effectively leverage anchor organizations and entrepreneurial spinoffs. This e-book explores the evolution of those areas within the United States.
The writer severely examines how they advanced as knowledge-based economies, how they leveraged entrepreneurship and innovation, and eventually how they hired public coverage to aid fiscal growth.
Filling a niche within the literature, the publication speaks to researchers and coverage makers around the fields of entrepreneurship, financial geography and monetary improvement making plans. Entrepreneurship researchers will locate this publication attention-grabbing since it makes a speciality of the position of recent enterprise construction in neighborhood monetary improvement.
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Additional info for Entrepreneurship and innovation in second tier regions
Some of the key characteristics detailed above critically influence the nature of spin-off activity and they are summarized well by Cooper: A firm with the following characteristics probably would be a very good incubator. It would be in a rapidly growing industry which offered opportunities for the well-managed small firm with good ideas; it would be a small firm or would be organized as a series of ‘small businesses’; it would be good at recruiting ambitious, capable people; and it would periodically be afflicted with internal crises sufficient to frustrate many of its professional employees and lead them to believe that opportunities were being missed and that ‘even I could manage the business better’.
These networks may also benefit entrepreneurial ventures, as the new firms may be able to act as suppliers and business partners to older firms. During the maturation phase, the region’s business environment becomes more specialized. Large firms, in particular, may begin to exert power over the regional economy to shape the labour supply, higher education infrastructure, and other factors – especially those related to public policy – that are necessary to improve their operations (Christopherson and Clark, 2007).
These large firms may help familiarize their employees with global production networks and influence a region through intra-organizational change processes. Herrigel (2000, 2004) notes that large firms drive change in regional economies because firms that operate in industries such as automobile or electronics production have been reorganizing their local production relationships (to suppliers, for example). These large firms can either ‘deregionalize’ by breaking off all their ties to local suppliers (or not developing many in the first place) or ‘re-regionalize’ by redefining their supplier relationships to be more locally oriented (Herrigel, 2004).
Entrepreneurship and innovation in second tier regions by Heike Mayer